NFT stands for Non-Fungible Token. A regular, fungible, token is not unique and is hence interchangeable with other tokens of its kind. For example, you could trade a Bitcoin with someone for another Bitcoin and they’d still be equal in value. Non-fungible tokens are different because they are each unique. Think of them like baseball cards that are serial numbered. A card that is number 1 of 200 is different than card 2 of 200. Because each card is unique, it is considered non-fungible.